Leading, Slipping, Gaining, Lagging Analysis:
Assessing Real Estate and Rental and Leasing Employment Growth
Across Virginia Counties
Real Estate and Rental and Leasing
Employment Growth
County vs Statewide Average: 2010-2022 and 2022
Real Estate and Rental and Leasing
Employment Growth
Virginia:
2010-2022 = 2.91%
2022 = 10.15%
Borrowing from an approach that sometimes appears in the finance sections of the popular press, LSGL analysis is a handy and versatile way to compare, portray and classify the patterns of real estate and rental and leasing employment growth across all of Virginia's 82 counties. In finance, this technique is used for comparing and assessing the market performance of individual securities or across industry sectors. For example, the performance of the 30 stocks contained within Dow are compared with one another over the past week in contrast to their performance over the past month using the Dow's respective averages as the points of reference.
Here in this Virginia Regional Economic Analysis Project report, we adopt this approach to gauge and compare the real estate and rental and leasing employment growth of Virginia's 82 counties over the latest available year (2022) against the backdrop of their growth over the long term period (2010-2022). In so doing we classify their growth and performance into 4 broad categories: Leading, Slipping, Gaining and Lagging.
Real Estate and Rental and Leasing
Employment Growth
County vs Statewide Average: 2010-2022 and 2022
Real Estate and Rental and Leasing
Employment Growth
Virginia:
2010-2022 = 2.91%
2022 = 10.15%
This figure displays the 82 counties of Virginia as dots on a scattergram, with the vertical axis representing the average annual real estate and rental and leasing employment growth rate over the long-term period (2010-2022), and the horizontal axis representing the real estate and rental and leasing employment growth rate for the near-term (2022).
This figure sets apart those counties whose long-term real estate and rental and leasing employment growth exceeded the statewide average of 2.91%, by portraying them in the top two quadrants demarcated at 2.91% on the vertical axis. County whose long-term average annual real estate and rental and leasing employment growth rate trailed the statewide average (2.91%) are distributed in the bottom two quadrants. In all, 27 counties surpassed the statewide average over 2010-2022, while 26 counties fell below.
Similarly, the two quadrants on the right of this figure present the positions of the 34 counties whose most recent (2022) real estate and rental and leasing employment growth rate exceeded the statewide average (10.15%). The two quadrants on the left feature those 19 counties whose real estate and rental and leasing employment growth over 2022 trailed the statewide average.
Accordingly, each quadrant portrays the performance of all 82 counties corresponding with their long-term (2010-2022) and near-term (2022) performance relative to their respective statewide averages of 2.91% over 2010-2022 and 10.15% over 2022:
Leading counties () (top-right quadrant)...are counties whose average annual real estate and rental and leasing employment growth rate surpassed the statewide average both long-term (2.91%) and near-term (10.15%).
Slipping counties () (top-left quadrant)...are counties whose long-term average annual real estate and rental and leasing employment growth rate exceeded the statewide average (2.91%), but whose near-term growth has "slipped" by falling below the Virginia average (10.15%).
Gaining counties () (bottom-right quadrant)...are counties whose long-term average annual real estate and rental and leasing employment growth rate fell below the statewide average (2.91%), but whose near-term growth has "gained" by registering above the average (10.15%) statewide.
Lagging counties () (bottom-left quadrant)...are counties whose average annual real estate and rental and leasing employment growth rate fell under the statewide average both long-term (2.91%) and near-term (10.15%).
   
 
Summary of Virginia's 82 County Totals
 
Short Term Average
 
 
Below
(10.15%)
Above
(10.15%)
 
Long
Term
Average
Above
(2.91%)
8
19
27
Below
(2.91%)
11
15
26
 
19
34
53
 
   
Leading Counties
2022 vs. 2010-2022 Averages
Leading Counties
white dot
Virginia:
2010-2022 = 2.91%
2022 = 10.15%
Turning attention to the top-right quadrant from the discussion above, this figure features the distribution of the Virginia counties classified as Leading. These counties surpassed Virginia's average annual real estate and rental and leasing employment growth both long-term (2010-2022 = 2.91%) as well as near-term (2022 = 10.15%). Each is identified by its corresponding ranking based on it's average annual real estate and rental and leasing employment growth rate over 2010-2022.
Of Virginia's 82 counties, 19 (23%) are classified within the Leading () category. Those counties ranked by their long-term average include:
Slipping Counties
2022 vs. 2010-2022 Averages
Slipping Counties
Virginia:
2010-2022 = 2.91%
2022 = 10.15%
This figure depicts the distribution of the 8 Virginia counties classified as Slipping (top-left quadrant), in that their long-term average annual real estate and rental and leasing employment growth rate outpaced the average statewide (2010-2022 = 2.91%), while they trailed the statewide average near-term (2022 = 10.15%). Again, each county is identified by it's corresponding ranking based on its average annual real estate and rental and leasing employment growth rate over 2010-2022.
Only 8 (10%) of Virginia's 82 counties are classified as Slipping (). Those counties ranked by their long-term average include:
Gaining Counties
2022 vs. 2010-2022 Averages
Gaining Counties
white dot
Virginia:
2010-2022 = 2.91%
2022 = 10.15%
This figure shows the distribution of the 15 Virginia counties classified as Gaining (bottom-right quadrant), in that their long-term average annual real estate and rental and leasing employment growth rate posted below the average statewide (2010-2022 = 2.91%), while they outpaced Virginia's average near-term (2022 = 10.15%). Again, each county is identified by its corresponding ranking based on its average annual real estate and rental and leasing employment growth rate over 2010-2022.
Of Virginia's 82 counties, 18% (15) are featured as Gaining (). Those counties ranked by their long-term average include:
Lagging Counties
2022 vs. 2010-2022 Averages
Lagging Counties
white dot
Virginia:
2010-2022 = 2.91%
2022 = 10.15%
This figure depicts the distributions of the 11 Virginia counties classified as Lagging (bottom-left quadrant). These counties trailed the statewide average annual real estate and rental and leasing employment growth both long-term (2010-2022 = 2.91%) as well as near-term (2022 = 10.15%). Again, each county is identified by its corresponding ranking based on it's average annual real estate and rental and leasing employment growth rate over 2010-2022.
13% of Virginia's counties, 11 of 82, are characterized here as Lagging (). Those counties ranked by their long-term average include:
   
 
Virginia
Real Estate and Rental and Leasing Employment Growth
County vs. Statewide Average
 
2010-2022
 
2022
 
 
Leading Counties
 
13
4.15
 
3
18.38
979
 
11
4.38
 
45
10.24
1,109
 
3
5.89
 
33
10.68
632
 
26
3.11
 
28
10.84
10,862
 
16
3.62
 
17
11.17
219
 
20
3.38
 
42
10.30
4,766
 
8
4.83
 
27
10.84
1,155
 
9
4.70
 
22
11.01
15,950
 
1
7.11
 
2
19.01
1,083
 
14
3.87
 
23
10.94
700
 
10
4.55
 
5
14.25
521
 
6
5.18
 
15
11.29
749
 
22
3.22
 
16
11.29
414
 
12
4.30
 
29
10.82
461
 
4
5.87
 
20
11.06
1,115
 
21
3.34
 
26
10.85
654
 
25
3.14
 
40
10.47
1,129
 
5
5.43
 
1
21.72
11,796
 
15
3.84
 
31
10.81
2,697
Slipping Counties
 
2
6.39
 
53
9.52
207
 
23
3.22
 
55
9.21
1,387
 
17
3.56
 
47
10.06
3,250
 
7
4.90
 
60
8.55
508
 
18
3.54
 
56
9.12
1,005
 
19
3.38
 
62
8.27
15,544
 
27
2.98
 
54
9.43
476
 
24
3.16
 
49
9.83
7,540
Gaining Counties
 
43
1.83
 
35
10.62
479
 
48
1.49
 
43
10.24
592
 
33
2.71
 
38
10.54
325
 
40
2.19
 
12
11.65
1,399
 
34
2.68
 
11
11.86
396
 
38
2.31
 
13
11.53
619
 
47
1.49
 
8
12.56
242
 
41
1.99
 
19
11.06
512
 
30
2.82
 
9
12.17
295
 
51
1.25
 
24
10.91
366
 
36
2.35
 
21
11.04
372
 
31
2.81
 
44
10.24
689
 
35
2.54
 
30
10.81
9,376
 
49
1.49
 
36
10.58
1,923
 
29
2.86
 
25
10.88
4,322
Lagging Counties
 
32
2.71
 
66
7.02
10,153
 
45
1.67
 
59
8.55
165
 
39
2.25
 
48
9.95
221
 
42
1.88
 
52
9.53
494
 
28
2.87
 
63
7.87
192
 
44
1.70
 
67
6.50
917
 
53
0.09
 
68
2.30
624
 
52
0.42
 
57
8.80
6,464
 
46
1.56
 
61
8.28
2,512
 
50
1.31
 
50
9.67
5,159
 
37
2.32
 
58
8.61
22,128
Undefined/Suppressed Counties
 
U
U
 
41
10.34
256
 
U
U
 
S
S
S
 
U
U
 
S
S
95
 
U
U
 
39
10.48
2,973
 
U
U
 
S
S
S
 
U
U
 
S
S
124
 
U
U
 
S
S
S
 
U
U
 
32
10.71
124
 
U
U
 
S
S
S
 
U
U
 
S
S
S
 
U
U
 
S
S
S
 
U
U
 
7
12.61
375
 
U
U
 
4
16.98
1,612
 
U
U
 
S
S
74
 
U
U
 
S
S
S
 
U
U
 
34
10.63
531
 
U
U
 
46
10.21
313
 
U
U
 
S
S
S
 
U
U
 
10
12.04
335
 
U
U
 
51
9.64
273
 
U
U
 
6
13.79
495
 
U
U
 
37
10.55
283
 
U
U
 
14
11.38
362
 
U
U
 
65
7.14
135
 
U
U
 
64
7.53
200
 
U
U
 
S
S
S
 
U
U
 
S
S
S
 
U
U
 
S
S
173
 
U
U
 
18
11.07
1,023
 
 
 
 
 
 
 
 
 
2.91
 
10.15
292,070
 
 
 
 
 
 
 
 
 
3.63
 
10.26
11,832,200
November 2023
REAP_PI_CA1500N_511100_LSGL
 
   
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